Cost of Living in Coatesville, PA

An Overview of Cost of Living in Coatesville, PA

Are you thinking about relocating, but curious about the potential cost of living in Coatesville? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Coatesville stands at 99, making it 1% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

In Coatesville, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Coatesville will resemble that of an average city, contributing to a manageable cost of living.

Is Coatesville Affordable?

Wondering if Coatesville is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Coatesville, for example, the median home price is 33.8% lower than what folks pay nationally, and monthly rent is 33.3% higher than the usual rates. Plus, income levels matter too, with Coatesville boasting a median household income of $52,931, which is 4.3% lower than the national average.

What Factors can Influence the Cost of Living in Coatesville?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Coatesville, the baseline sales tax rate begins at 6%, and income tax rates start at 3.07%.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Coatesville, the utilities index registers at 8.2% lower than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Coatesville, the groceries index is 5.7% higher than the national average.

Where is the Data From?

The Coatesville cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.